Looking for lists of the new auctions, I found this blog. Most refer to these as Penny Auctions.

The sites started in Europe years ago: Bidster.com in the UK and Fiksuhuuto in Finland, along with Swoopo and http://telebid.wordpress.com

Another article is listed at: Associated Content Penny Auction Sites - Deal of the Century or Scam of the Century?

http://www.pennyauctionwatch.com/

Here is a big list: http://www.pennyauctiontraffic.com/

Penny Auctions are a new type of auction where users can get fantastic deals on brand new items. The catch is that each bid costs a little bit of money - typically under $1.00. You have to be the last bidder on the auction when the time runs out. Each bid that is placed raises the price of the auction by a penny and extends the time by a few seconds. Hence the name, penny auction.

Penny auctions are fun and exciting, and it is possible to sometimes score a great deal. However, you have to be careful because there are many sites which are dishonest or simply fraudulent. This list contains penny auction sites which have been checked out and are legitimate.

http://www.swoopo.com/
One of the oldest sites around. Hard to win anything, but lots of products. Slow. Same auctions run in multiple countries, which means you are competing with people from all over the world.

http://www.bidrodeo.com/
A well designed and professionally run penny auction site. Fast with fantastic customer support. Not too bid, Not as many users means less competition and higher chances of winning.

http://www.rockybids.com/ Founded in New York City
Lots of free bids and a few products. Kind of slow, but one of the leaders. Good customer support.

http://www.zoozle.com/
A crazy name and descent product selection. Not too pretty, but honest and professional.

http://www.bidcactus.com/
A promising site but it seems all that they sell is small items, bid packs, and low-value gift cards.

http://www.gobid.com/
Not as quick or pretty as some of the others, but worth a look. They sell mostly small items but are known to be legit, which is a lot to say compared to other sites not on this list.

http://www.bidstick.com/
bidstick focuses exclusively on high end Electronics, luxury goods and high ticket items. "We're in the process of adding convertible cars, jewelry and even vacation packages" says Keven Moore marketing director.
BidStick is a mid-sized auction site and does offer an varied product selection. It is one of the quicker sites on this list. Based in Miami, Florida.

http://www.bidray.com/
One of the biggest problems with this site is the annoying guy who walks onto your screen whenever you visit. Besides that, a descent site with a nice products.

http://www.junglecents.com/
This is slightly different take on the penny auction model. Instead of paying per bid, you pay per seat. Once all the seats are full, the auction runs and the last person to bid wins. Unfortunately, the auctions do not run very often.

http://www.prestigebids.com

http://www.bidntime.com

http://www.bidito.com

http://www.pennypurses.com/

A niche penny auction site dedicated to what women love most - purses. Designer bags can be yours for only a few bucks, if you can bid smarter than the competition.
Penny auctions are fun and exciting, and it is possible to sometimes score a great deal.
However, you have to be careful because there are many sites which are dishonest or simply fraudulent. This list contains penny auction sites which have been checked out and are legitimate.

by Andrew Roos